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Abu Dhabi: Adnan Najm
The current summer season has witnessed the launch of a group of real estate development companies for a number of promotional and marketing offers to revitalize the sector and increase sales volume as these offers coincide with the approaching UAE hosting of the Expo 2020 Dubai.
Experts and officials of real estate companies believe that the real estate market in the country is witnessing an active movement with the arrival of new investors and businessmen, who are pushing for attractive offers with convenient and flexible payment methods to attract more buyers and investors. .
They mentioned that the real estate industry is proving its durability and strength despite various circumstances, explaining that real estate prices are currently considered the most suitable for buying and owning, providing a great investment opportunity.
Khalifa Al Muhairbi
Khalifa Saif Al Muhairbi, Chairman of the Board of Directors of the Arabian Gulf Investment Company, confirmed that the real estate market in the country has always witnessed the launch of various promotional and marketing offers for real estate projects, explaining that in recent years and the The current period has witnessed the launch of attractive and appropriate offers to attract investors and those who want to buy, own and end-use.
Al Muhairbi said: “Development companies have made competitive and direct offers with investors and buyers, without resorting to banks whose terms are still difficult and their interest rates are high, as companies offer flexible payment methods with limited payments, and payment terms stretch. extending to several years after receipt, encouraging purchase and ownership, and it can be said that these flexible methods take into account the potential of a large segment of the public who would rather buy, own and live in a housing unit than rent it.”
Al Muhairbi added: “Residential unit prices are currently considered competitive and appropriate, and this issue has encouraged the appeal of greater numbers of people looking to buy and own for end use or investment, and we have witnessed the advent of a number of investors, businessmen and new families to the country to work, invest and live. They sought suitable opportunities to buy and live in real estate, which had a significant impact on the continued activity of the real estate market despite the pandemic and its consequences.
Abdul Rahman Al-Afifi
dr. Abdul Rahman Al-Afifi, CEO of Tamkeen Real Estate Company, said: “Several offers from real estate developers have been launched recently and the presentation of the monthly payment method in view of ownership is one of the most important offers as many developers and companies offer flexible payment methods for a period of 4 or 5 years, and this benefits all segments of investors, as it encourages them to avoid using banks and the interest they charge on financing and lending, and the ease of buying without the need to meet the requirements of the banks, which made it easier for a large number of middle and high income earners to buy and own real estate.
Al-Afifi added: Buying real estate directly from the developer without the need for bank loans will lower the cost of the real estate for the buyer, and this will activate the real estate industry and push the growth wheel, and we expect during the Expo 2020 Dubai to achieve significant growth in real estate sales in the country.
Saeed Abdul Karim Al Fahim, CEO of Stratum Owners Association Management, said: “There is currently a demand for buying properties in the country, and there is a demand for buying high-end units, and the recent launch of real estate offers that offer flexible payment methods will encourage those who want to buy the ultimate property as they make up the bulk of buyers.Al Fahim added: “We will also witness an increase in demand for real estate for people on limited incomes, which are located near the area for organizing the events of the “Dubai Expo”, in addition to the fact that the prices of villas near the Expo area are still reasonable and witness the demand for it, where it is possible to to buy a residential villa. At a cost of one and a half million dirhams, or two million dirhams, thousands of residential units will be completed this year in a number of real estate projects in the country.”
He went on to say, “The demand is there and the real estate market is witnessing a good move, and it can be said that we have overcome many of the effects of the pandemic as many citizens and residents have received vaccinations.”
dr. Ayoub Al-Faraj, CEO of KMK Investment Group, explained that the real estate market in the country is still receptive to more real estate offers to stimulate the purchase and ownership movement, noting that the offers launched recently are considered appropriate and attractive because they depend on the direct relationship between the Development company and buyers in terms of purchase and payment, away from banks and finance companies, which helped large numbers of people with high and middle incomes to buy and own.
dr. Al Faraj reports that many new businessmen, investors and their families have recently preferred to come and stay in the UAE thanks to the medical care and vaccinations it provides to citizens and residents on land, in addition to its advanced infrastructure, modern facilities and real estate suitable for everyone in the different emirates of the country. . He stated that in the coming weeks the real estate market in the country will be on a date of increased activity and demand for purchase and property, which will witness the launch of the “Expo 2020 Dubai” exhibition, which will register the arrival of millions of visitors. who want to participate and learn more about Dubai and UAE.
Abdul Rahman Al Shaibani
Abdul Rahman Al Shaibani, Chairman of the Board of Directors of Manbea Real Estate, said: “The distinctive offerings and flexible payment methods offered by real estate companies represent a major incentive for investors and individuals to purchase and own real estate, whether it be for end use or investment.”
Al Shaibani added: “The more offers increase and the payment and financing methods diversify, the greater the demand for purchase and property, which is positively reflected in the movement and activity of the real estate market and the high demand for buying housing units, and With the Dubai Expo approaching and the speed of recovery from the Corona pandemic, we expect an increase in the demand for procurement in the coming period.
Alaa Masoud, Head of Marketing at Aras Group, said: “With the date approaching for the opening of the Dubai Expo and to increase the interest and demand for our project, which is located in the Majan area opposite the Global Village, launched special summer offers for investors who want to buy, as well as for real estate agents who want to offer the project to their clients, and there is competition among real estate developers in the market, and we have seen a wish from investors from outside the country, especially France, Germany and Great Britain, to buy property in Dubai since the beginning of this year.” He added: “Our offers include facilities in the repayment period, up to 5 years after delivery.”
A hot real estate season is knocking on the doors of Dubai Summer
Walid Al Zaroonic
Dubai: «The Gulf»
Real estate expert Walid Al Zarooni expected the current summer season to be warm due to strong demand and strong sales in the real estate sector in the emirate of Dubai, compared to recent years, which have witnessed some slowdown in sales. : “The expected improvement is due to several factors in the Emirate of Dubai that have not existed in recent years, the most important of which is the imminent launch of the “Expo 2020 Dubai” international exhibition in early October, increasing investment demand for leasing during the exhibition period , which lasts for 6 years. Months”. Al Zarooni added that the Dubai Expo will have a high attraction for inbound tourism, which will greatly support the demand for hotel apartments, and increase the occupancy rate to significant levels, improving the return on investment and prolonging its effects for many years to come. .
Al-Zarouni stated that property prices have already shown a remarkable increase since the beginning of the year, especially during the second quarter of 2021, especially in villas and luxury units.
He pointed out that the gradual improvement in prices is an indication of the market’s recovery and gives indications to the investor that he should currently seize opportunities and take advantage of the good returns offered by real estate in Dubai, compared to prices in the Middle East and North Africa region. He stated that the recovery in the real estate market is mainly driven by the full containment of the “Covid-19” pandemic, thanks to vaccinations involving all residents, which has strongly encouraged the reopening of the economy and the resumption of tourism.
He believes that in the present time the activity has increased to the purchase of a housing unit close to the beaches and recreational areas for water games, given the intense summer heat.
On the other hand, he pointed to the supportive and complementary role of government initiatives through the granting of golden residency and naturalization, which creates additional demand from abroad, in addition to investor confidence in the future of the UAE’s economy, which presence and acquisition of a property or business in Dubai.
He revealed that the real estate supply is beginning to decline, while new projects are few and far between, and this will play a role in a sharp rise in prices in the next 12 months.
He pointed out that the improvement in rents in most areas in Dubai is increasing investment demand to buy real estate for the purpose of leasing and earning good returns, and that prices or rents are rising as the Expo launch approaches.
He believes that the improvement in prices and sales during the summer season will push developers to change payment plans and reduce the facilities offered, which range from 5 to 7 years, to 3 years or less, in an effort to raise prices and collect liquidity to offset corporate losses during the pandemic year.
He noted that the return on investment is currently very encouraging and that some homes have reached the 8% level and are likely to rise above 9% during the summer season with the start of the exhibition.
Al Zarooni monitored a price increase of nearly 6% in the first half of 2021, and villas, representing 13% of the Dubai housing market, played a key role in this growth, rising 6.3%. He emphasized that the potential for price growth is high until we peak in 2014, adding that in the medium term, price increases could be as high as 44% if economic growth factors improve.
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